Mixed-Use Building with Retail and
For Sale
$5,250,000
199 Main Street, Falmouth, MA 02540
Downtown mixed-use building with multiple retail bays and a renovated 3BR/2BA unit above.
Property Size9,600 SF
Price / SF$546.88
Days on Market190
Property Features for 199 Main Street
General Information
Standard status
Active
Size
9,600 SF
Total Parking Spaces
6
Property subtype
Commercial
Additional Details
Road Access
Yes
Multifamily Units
1
Building Details
Year Built
1980
Tenancy
Multi
Listing Agency:
Premier Commercial
Listed By:
Michael Valentine
(508) 958-6927
Source:
Grandgables
Added: Feb 24
Changed: Aug 23
Last Checked: Aug 31 at 8:22PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Premier Commercial
Investment Insights
Based on property information with market context.
This mixed-use property includes approximately 9,600 sq. ft. of retail/commercial space and a renovated 1,500 sq. ft. 3BR/2BA apartment above. The commercial portion is divided into three spaces of approximately 1,600 sq. ft., 4,500 sq. ft., and 3,500 sq. ft., and each space has a full basement that provides storage and utility area not included in the stated square footage.
The building is located directly on Main Street in downtown Falmouth. Parking includes five to six dedicated spaces, plus abundant street parking and a municipal parking lot one block away, supporting convenient access for customers, tenants, and guests. The area is described as active year-round, with nearby shops and restaurants, and the property is minutes to area beaches, ferries, and marinas.
For investors or owner-users, the layout supports leasing flexibility across multiple retail/commercial spaces while keeping a fully renovated apartment on the upper level. The on-site basements add practical storage for retail operations, and the combination of dedicated and nearby public parking helps reduce friction for foot traffic throughout the day.
The building is located directly on Main Street in downtown Falmouth. Parking includes five to six dedicated spaces, plus abundant street parking and a municipal parking lot one block away, supporting convenient access for customers, tenants, and guests. The area is described as active year-round, with nearby shops and restaurants, and the property is minutes to area beaches, ferries, and marinas.
For investors or owner-users, the layout supports leasing flexibility across multiple retail/commercial spaces while keeping a fully renovated apartment on the upper level. The on-site basements add practical storage for retail operations, and the combination of dedicated and nearby public parking helps reduce friction for foot traffic throughout the day.
Key Highlights
- Mixed‑use downtown Falmouth property on Main Street with approximately 9,600 SF total retail/commercial plus a renovated 1,500 SF 3BR/2BA apartment above.
- Three retail/commercial spaces totaling approximately 1,600 SF, 4,500 SF, and 3,500 SF, each with a full basement for storage and utility space.
- Apartment unit: 1,500 SF 3BR/2BA located above the retail spaces.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$197,165
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,943,300
$3.9M
Cap Rate 7%
$2,816,643
$2.8M
Cap Rate 9%
$2,190,722
$2.2M
Market Conditions
NOI Build-Up for 9,600 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$288.0K $30.00/SF
− Vacancy
−$6.3K −$0.66/SF
EGI
$281.7K $29.34/SF
− OpEx
−$84.5K −$8.80/SF
NOI
$197.2K $20.54/SF
Area
Barnstable County, MA
Vacancy
2.20%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,943,300
Cap Rate 7%
$2,816,643
Cap Rate 9%
$2,190,722
Alternative Uses
Best Use
Retail
$2.82M
$2.46M – $3.29M
NOI $197,165 @ 7.0% cap · market cap 3.76%
Second Best
Mixed Use
$1.91M
$1.67M – $2.23M
NOI $133,920 @ 7.0% cap · market cap 2.55%
Theoretical Best
Office A
$3.91M
$3.42M – $4.56M
NOI $273,844 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
827
Businesses Nearby
Explore this area
Business Placement
Demographics for 02540, MA
8,450
Population
6,200
Households
1.4
Avg Household Size
61
Median Age
59%
College-Educated
94%
High-School Grad
11.0 sq mi
ZIP Area
768
Density / Sq Mi
$88,266
Median Household Income
$52,243
Median Earnings
$1,328
Median Rent
$756,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown mixed-use building with multiple retail bays and a renovated 3BR/2BA unit above.
Where is this mixed-use property located?
The property is located at 199 Main Street Falmouth, MA.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: Mixed‑use downtown Falmouth property on Main Street with approximately 9,600 SF total retail/commercial plus a renovated 1,500 SF 3BR/2BA apartment above.; Three retail/commercial spaces totaling approximately 1,600 SF, 4,500 SF, and 3,500 SF, each with a full basement for storage and utility space.; Apartment unit: 1,500 SF 3BR/2BA located above the retail spaces.
